Marmota is very pleased to refer to
Of particular relevance to Marmota shareholders:
Highlights
(a) The Rare Earth discovery is directly on the border with Marmota tenements
(b) geologically, the hosting ionic clay systems are regional the largest and most exceptional of the high-value magnet REE results (1015 ppm: Hole 590) attained so far is located on the Marmota tenement boundary [ see Fig. 2 ]
(d) Marmota to commence new exploration program for Rare Earth Mineralisation with immediate targets starting at the discovery on Marmota's tenement boundary
1. Location and Extent
The discovery is 'regionally extensive extending several kilometres': drill holes are generally on a wide 400m grid, over a mineralized area at least 20km long and 7km wide.
The discovery lies immediately adjacent to Marmota tenements. Sampling stopped at the tenement boundary. Some of the highest rare earth intersections occur on the Marmota tenement boundary (e.g. Hole 590: 3m@ 2701 ppm TREO1:see Fig.2 ). This hole on the boundary also yielded the highest of the exceptional high-value magnet results.
2. Highly prospective
The significant rare earth intersections are remarkably close to surface, just 12m from surface in ionic clays. This means that explorationcosts are low, that large areas of ground can be tested quickly, and any deposits defined would potentially have low mining costs.
Petratherm note that the discovery redefines the mineral prospectivity of the Northern Gawler Craton.
They further note that the newly defined rare earth areas have been shown to be regionally extensive, extending several kilometres, and that 'there is substantial upside potential for additional new REE discoveries to be made in the surrounding un-explored tenure'.
Petratherm samples returned exceptional high-value magnet Rare Earth Element grades, and the largest of them is located on the Marmota tenement boundary.
Marmota is by far the largest tenure holder in the Northern Gawler Craton
3. Obvious Drill Targets for Marmota
There are already two areas where significant intersections have been made along and/or on the boundary of Marmota tenements.
They are:
1.Petratherm's Hole 590 area [see Fig.2], on the boundary of Marmota EL 6040
2.
It would be geologically highly improbable for the mineralisation in an ionic clay system to suddenly stop at the tenement boundary. Inversely, it is geologically highly probable that the mineralisation continues across the tenement boundary.
Marmota is seeking to put in place the necessary approvals to have this work carried out.
4. Broader Implications
This is the first time that significant Rare Earth Elements have been discovered in the Northern Gawler Craton.Petratherm state that the 'resultsprovide stronevidence that the Northern Gawler Craton ofSouth Australia is fertile for ionic clay hosted rare earth mineralisation'.
The newly defined mineralisation has been shown byPetratherm to be regionally extensive.
Examination of thePetratherm results show that all the anomalism and mineralization to date is hosted by the Archaean to earlyPaleoproterozoic Mulgathing Complex which is also the host to the most significant gold mineralization in the region.
Marmota is fortunate to hold tenure for the majority of the large area of theMulgathing Complex metamorphic rocks that extends about 120km to the west of the new discoveries [see Fig.3 ]
Contact:
Dr. ColinRose
Executive Chairman
Email: colin@marmota.com.au
Unit 6
Glenelg
SA 5045
ABN: 38119 270 816
T: (08) 8294 0899
WEB: www.marmota.com.au
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Information in this Release relating to Exploration Results is based on information compiled by
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